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The Head of State: Japanese Investments Are an Opportunity to Develop a Qualitatively New Model of Business Relations in Bulgaria

The Head of State: Japanese Investments Are an Opportunity to Develop a Qualitatively New Model of Business Relations in Bulgaria

Rumen Radev met representatives of the Japan-Bulgaria Business Association at the Presidency

Increasing Japanese investment in Bulgaria is an opportunity to develop a qualitatively new model of relations between business and institutions and business and society, as well as to change the economic environment in the country, stated President Rumen Radev at a meeting with representatives of the Japan-Bulgaria Business Association at the Presidency today. His Excellency the Ambassador of Japan to Bulgaria, Mr. Hiroshi Narahira, also took part in the meeting.

The Head of State pointed out the consistent action of the Presidency to achieve new dynamics in the economic and investment partnership between Bulgaria and Japan. President Rumen Radev held several meetings with Japanese businesses and institutions during his visit to Japan in 2019 on the occasion of the enthronement of Emperor Naruhito. In 2020, the initiative for creating the Japan-Bulgaria Business Association was presented during a meeting for promoting investment cooperation between Bulgaria and Japan, hosted by the Bulgarian President.

Mr. Rumen Radev underlined the significant unused potential in relations between Bulgaria and Japan and added that the country highly appreciates the predictability and correctness of Japanese companies investing here. The Head of State highlighted our country’s advantages in attracting investments: the geostrategic position, stable macroeconomic indicators and highly skilled, high quality human capital.

His Excellency the Ambassador of Japan to Bulgaria, Mr. Hiroshi Narahira, welcomed the priority set by the Bulgarian Head of State of further cooperation in the field of science, education and innovations within the Three Seas Initiative. Japanese companies are interested in investing in regional projects in the field of smart transport, energy and digital connectivity in Eastern Europe. “Without progressive education and innovations in the scientific and research and development activities, we could not speak of high-quality partnership in any field,” Mr. Rumen Radev emphasised. The position that the most important factor for attracting investments to the country and the region as a whole is the sustainable development of the business environment was shared by the participants.

The Chairperson of the Management Board of the Japan-Bulgaria Business Association, Mr. Vladislav Mihov, thanked the Head of State for his support and declared that the organisation will be supporting both the introduction of Japanese companies to the Bulgarian market and of Bulgarian companies seeking trade partners in Japan.

During the conversation, His Excellency Ambassador Hiroshi Narahira pointed out the dynamically developing start-up ecosystem in Bulgaria and the trend of young Bulgarians coming back with their ideas and business plans to be realised in their homeland. The Japanese Ambassador extended an invitation to Bulgarian companies to participate in the International Expo to be held in 2025 in Osaka.